Stocks with Momentum: Seatrium and Innotek

April 29, 2024

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is key to smart investing.

In this article, we’re highlighting Seatrium Limited (SGX: S51) as price action seems to be showing positive signs of rebound the whole of last week, and Innotek Limited (SGX: M14), where its price action have seen a resumption of the uptrend and is in an early stage.

Below are some key highlights from the technical reports:

Seatrium Ltd

  • Market Position: Seatrium Ltd is currently experiencing a bullish reversal, indicating a strong recovery and potential for significant growth. This mean reversion rebound positions the stock as a ‘Technical Buy.’
  • Entry Prices and Support Levels: Recommended entry points for Seatrium Ltd are at S$0.089, S$0.078, and S$0.070. The support levels are established at S$0.073 and S$0.069, which will serve as critical thresholds to sustain the bullish momentum.
  • Stop Loss and Resistance Levels: To safeguard investments, a stop loss has been advised at S$0.065. The resistance levels, found at S$0.101 and S$0.135, signify potential challenges in upward movement but also mark prospective profit-taking zones.
  • Target Prices: Target prices are set at S$0.101, S$0.110, S$0.120, and S$0.131.
  • Company Overview: Seatrium Ltd specializes in engineering solutions across the offshore, marine, and energy sectors. It offers a broad spectrum of services, including rig and floater production, repairs and upgrades, offshore platform development, and specialized shipbuilding, serving an international customer base.

For a more detailed analysis, click on the link to access the report.

InnoTek Ltd

  • Market Position: InnoTek Ltd is classified as a ‘Technical Buy’ due to its completion of a bullish accumulation phase.
  • Entry Prices and Support Levels: Investors are advised to consider entry at S$0.550, S$0.510, and S$0.480. Support levels have been carefully determined at S$0.460 and S$0.380, offering a buffer against potential downturns and affirming the stock’s current stability.
  • Stop Loss and Resistance Levels: A prudent stop loss is set at S$0.430 to mitigate risks. The resistance levels are projected at S$0.560 and S$0.670, providing clear markers for potential sell points during the stock’s ascent.
  • Target Prices: The analysis sets target prices at S$0.660, S$0.720, S$0.750, and S$0.810.
  • Company Overview: InnoTek Ltd operates primarily in the manufacturing sector, providing high-precision metal components. Its operations encompass metal stamping, tool and die fabrications, and sub-assembly work, catering to a diverse clientele in Japan and Europe.

For a more detailed analysis, click on the link to access the report.

Take advantage of the stock momentum

Our goal is straightforward: to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re an experienced investor or new to the market, our analysis is tailored to help you navigate the market with confidence.

Please refer to the attached report for the disclaimer.